An economic downturn can be devastating in just about every area regarding life, and auto insurance is not any exception. One of the more disturbing stuff that we’ve seen happen over the past number of years is a situation in which those who have a car loan on a vehicle that they may no longer afford get eager.
You can find and compare vehicle insurance quotes from many different insurance firms - just enter your current zip code above right now.
Rather than just allowing the car to be repossessed (and having their credit ruined in the process), they try to deal with the upcoming loss of their vehicle one way. They, or someone that they will hire, sets the vehicle unstoppable, hoping to kill two parrots with one stone: that they might be able to make an auto insurance claim yet still time getting out from under a car loan payment that they can no more afford.
How Auto Insurance Scam Works
One example of this sort of fraud happened a few years ago from the Southern California area. As it turns out, there was a group of arsonists for hire that would participate in a particular type of auto insurance system. It seems that people who owned automobiles that they wanted to get out through under would go to a particular car lot in the hopes that they could business the vehicle (usually an SUV that will get poor gas mileage) in for a more affordable vehicle.
Recession Creates Car insurance Fraud Increase
The procedure was that the used car dealership that these people visited told them how to get in contact with the arsonist ring. The arsonists would likely instruct the owners to leave their keys in the ignition, together with $300 in cash in the handwear cover box. The arsonists would and then take the car to a countryside spot, where they would and then set the car on fire.
When the car was burned, pet owners would contact the police as well as report their vehicle because stolen. The vehicle would be located, of course, having been torched.Recession Generates Auto Insurance Fraud Increase.
Law enforcement officials and Auto Insurance Fraud
Unfortunately for some of those SUV entrepreneurs, this practice was and it is (obviously) against auto insurance laws and regulations. The police created a task drive to deal with the problem.
They established a sting operation in which an officer working undercover would present as an SUV owner hoping to get a different vehicle. The police in fact installed a camera in a vehicle to record the actions from the arsonist, and also rigged the vehicle with a destroy switch and locks that might trap the arsonist inside.
These types of auto insurance fraud situations injure everyone, not just the auto insurance companies. They are, in part, responsible for larger premium rates and more. If you wish to dump your old Sports utility vehicle, consider selling it confused or even letting the bank take back it, otherwise you might get used up.
You can find and compare vehicle insurance quotes from many different insurance firms - just enter your current zip code above right now.
Rather than just allowing the car to be repossessed (and having their credit ruined in the process), they try to deal with the upcoming loss of their vehicle one way. They, or someone that they will hire, sets the vehicle unstoppable, hoping to kill two parrots with one stone: that they might be able to make an auto insurance claim yet still time getting out from under a car loan payment that they can no more afford.
How Auto Insurance Scam Works
One example of this sort of fraud happened a few years ago from the Southern California area. As it turns out, there was a group of arsonists for hire that would participate in a particular type of auto insurance system. It seems that people who owned automobiles that they wanted to get out through under would go to a particular car lot in the hopes that they could business the vehicle (usually an SUV that will get poor gas mileage) in for a more affordable vehicle.
Recession Creates Car insurance Fraud Increase
The procedure was that the used car dealership that these people visited told them how to get in contact with the arsonist ring. The arsonists would likely instruct the owners to leave their keys in the ignition, together with $300 in cash in the handwear cover box. The arsonists would and then take the car to a countryside spot, where they would and then set the car on fire.
When the car was burned, pet owners would contact the police as well as report their vehicle because stolen. The vehicle would be located, of course, having been torched.Recession Generates Auto Insurance Fraud Increase.
Law enforcement officials and Auto Insurance Fraud
Unfortunately for some of those SUV entrepreneurs, this practice was and it is (obviously) against auto insurance laws and regulations. The police created a task drive to deal with the problem.
They established a sting operation in which an officer working undercover would present as an SUV owner hoping to get a different vehicle. The police in fact installed a camera in a vehicle to record the actions from the arsonist, and also rigged the vehicle with a destroy switch and locks that might trap the arsonist inside.
These types of auto insurance fraud situations injure everyone, not just the auto insurance companies. They are, in part, responsible for larger premium rates and more. If you wish to dump your old Sports utility vehicle, consider selling it confused or even letting the bank take back it, otherwise you might get used up.
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